Azad Engineering IPO - Key Details You Need to Know

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  • 21 Dec 2023
20 December: Azad Engineering IPO - Key Details You Need to Know

Key Details of Azad Engineering IPO

IPO Opens On December 20
IPO Closes OnDecember 22
Price BandRs 499 - 524 per equity share
IPO Lot28 shares and in multiples thereafter
Fresh issueRs 240 crore
Offer for SaleRs 500 crore

50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Offer Objectives

With the funds raised, the company plans to:

  • Fund its capital expenditure including manufacturing equipment and technology for the production of its products
  • Repay in part or full its certain borrowings (debt)

It plans to utilize the remaining portion of the IPO proceeds for general corporate purposes.

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